The Real Deal New York

Onex seeking $400M for SkyView Center in Flushing

Shops are part of a larger mixed-use development
May 08, 2015 03:45PM

Onex Real Estate Partners is placing the Shops at SkyView Center on the market for $400 million.

The official listing has not been announced, but a source told the New York Observer that the 700,000-square-foot mall at 40-24 College Point Boulevard is up for grabs. The shopping center is part of a larger mixed-use development in Flushing that includes condos. It opened in 2010.

Onex Real Estate Partners, an affiliate of Toronto-based private equity firm Onex Corporation, co-developed the project with Muss Development but took full ownership once it was complete.

The property is close to 100 percent leased, with asking rents ranging from $75 to $125 per foot. Uniqlo recently signed on to take 8,000 square feet, and is slated to open this spring. Nordstrom Rack took 39,000 square feet in 2014. [NYO] — Tess Hofmann